This Large-Cap Infra Stock Fixes Record Date To Pay 250% Dividend

Adani Ports and Special Economic Zone Ltd came into existence as Gujarat Adani Port Ltd (GAPL) on 26 May 1998 seeking to develop a private port at Mundra on the West Coast of India. It has emerged as India's largest private port and special economic zone. The company has announced an equity dividend of 250% equivalent to Rs 5 per share for the year ending March 2022.

Check key details below pertaining to dividend and record date:

Adani Ports and Special Economic Zone to pay 250% dividend

The board of directors of Adani Ports have now fixed the record date to pay Rs 5 equity dividend to the shareholders.

According to its BSE filing, "Pursuant to the Regulation 42 of SEBI Listing Regulations, it is hereby informed that the Company has fixed Friday, 15th July, 2022 as 'Record Date' for the purpose of determining entitlement of the shareholders of the Company to receive Dividend of Rs. 5/- (@ 250%) per equity share having face value of Rs. 2/- each fully paid-up for the financial year 2021- 22. The said Dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after 28th July, 2022, subject to deduction of tax at source as applicable."

The company also said that it has fixed July 19, 2022 as the cut-off date for ascertaining the names of shareholders holding shares either in physical form or in dematerialized form.

Adani Ports and Special Economic Zone Stock Outlook

The current market price of the stock is Rs 687 apiece at 11:23 am. It has gained 1.36% so far. The 52-week high of the stock is Rs 924.65 apiece while 52-week low is Rs 651.95 apiece, respectively. The PE of the stock is 30.53 while sector PE is 23.39. The EPS is 22.51. It has given a return of return of 84.88% in 5 years. The one year return is in negative at 3.66%. The company's annual revenue growth of 24% has outperformed its 3 year CAGR of 13%.

Adani Ports and Special Economic Zone Dividend History

It has a good dividend history and has regularly declared dividend in the last 5 years with out fail. The dividend yield is 0.73 at the current market price of the share that is Rs 687 apiece.

About Adani Ports and Special Economic Zone

Adani Ports and Special Economic Zone (APSEZ), a part of globally diversified Adani Group has evolved from a port company to a Ports and Logistics platform for India. It is the largest port developer and operator in India with 12 strategically located ports and terminals. It represents 24% of the country's total port capacity, handling vast amounts of cargo from both coastal areas and the vast hinterland.

The market capitalization is Rs 144,824 crore.